Lentuo International Inc. (NYSE: LAS) (“Lentuo” or the “Company”), the largest non-state-owned automobile retailer in Beijing as measured by new vehicle sales revenue in 2009, today announced that it has engaged RedChip Companies, Inc. to lead its public and investor relations efforts.
Mr. Hetong Guo, Founder and Chairman of Lentuo, stated, “RedChip is known for its innovative investor relations platform and strong history of increasing exposure for growing companies. We completed our initial public offering in December and are currently expanding our dealership network into China’s second- and third-tier cities, which are expected to be huge growth drivers for the domestic auto market. As we continue to grow our business, we are certain that RedChip will help us build solid, lasting relationships with investors.”
“Lentuo has an established track record of exceptional sales and earnings growth,” stated Dave Gentry, President of RedChip Companies. “We are excited to represent such a dynamic company operating in the world’s largest and fastest-growing auto market.”
Mr. Gentry continued, “Lentuo’s auditor is Ernst & Young, a Big Four firm; and its IPO was underwritten by Cowen and Company, HSBC Securities (USA), and Macquarie Capital, three of the most prominent financial services firms in the world. The Company has an outstanding reputation and a skilled management team with years of auto industry experience. We look forward to implementing a comprehensive investor relations program and introducing Lentuo to our international investor network.”About Lentuo International Inc. Lentuo is the largest non-state-owned automobile retailer in Beijing, China as measured by new vehicle sales revenue in 2009, according to the China Automobile Dealers Association (“CADA”). Lentuo operates six franchise dealerships, ten automobile showrooms, one automobile repair shop and one car leasing company in Beijing, the largest new passenger vehicle market among all cities in China. Three of Lentuo’s six dealerships are among the leading dealerships in China for their respective brands, as measured by the volume of new vehicle sales by individual dealership.